Spotlight

Indian equity markets are expected to remain cautious following the weakness witnessed in the previous session, with global risk sentiment and geopolitical developments likely to remain key drivers.
 
WTI crude oil remains elevated near the $85 per barrel mark, keeping energy prices as an important monitorable for domestic equities. Meanwhile, gold continues to hold its recent gains and is gradually advancing further, reflecting continued demand for safe-haven assets amid heightened uncertainty.
 
On the geopolitical front, the U.S. has launched an “Economic D-Day” against Iran, with Treasury Secretary Scott Bessent announcing a sweeping new sanctions campaign that marks a shift towards intensified economic pressure. The development comes after the expiration of the 60-day ceasefire window, with no further talks currently planned. While Iran’s rial has fallen to a record low and shipping activity through the Strait of Hormuz remains severely constrained. The escalation continues to keep crude oil prices and global risk sentiment under pressure.  
 
Asian markets are also trading lower, following weak overnight cues from U.S. markets. A sharp sell-off in semiconductor stocks in the U.S. is weighing on technology-related stocks across the region and adding to the cautious global market setup.
 
Domestically, IT stocks are likely to remain in focus following Tata Consultancy Services’ acquisition of Porsche AG’s IT and consulting unit, MHP, for €320 million, alongside a five-year partnership valued at $1.46 billion. The deal is expected to strengthen TCS’s presence in automotive technology, artificial intelligence and digital-transformation services, while enhancing its long-term growth opportunities in the sector.

Technical view 

Nifty 50 

Nifty 50 is expected to maintain a cautious bias as the index continues to face selling pressure at higher levels, keeping the near-term technical structure subdued. The 24,300 region remains the immediate resistance zone, while a sustained breakout above 24,400 would be essential to strengthen bullish momentum and open the way towards higher resistance levels.
 
On the downside, 24,150–24,100 remains the immediate support zone, followed by the crucial 24,000 psychological level. A decisive break below 24,000 could intensify selling pressure and expose the index to the 23,900–23,800 support region. Overall, the near-term technical outlook remains cautious. Nifty 50 will need to decisively reclaim and sustain above the 24,300–24,400 resistance band to establish stronger recovery momentum, while holding above 24,000 remains crucial to prevent a deeper corrective move.

Bank Nifty 

Bank Nifty is also likely to remain under near-term pressure after facing selling pressure at higher levels. The 57,800–58,000 region remains the immediate resistance zone, and the index will need to sustain above this band to strengthen the ongoing recovery. A decisive breakout above 58,000 could reinforce bullish momentum and pave the way towards the 58,300–58,500 levels.  
 
On the downside, 57,300–57,200 remains the immediate support zone, followed by the stronger 57,100–57,000 region. A decisive break below 57,000 could trigger renewed selling pressure and expose the index to the 56,600 and lower support levels. Overall, the near-term technical outlook for Bank Nifty remains cautious. A sustained move above 58,000 would improve the short-term structure and strengthen recovery prospects, while continued trading below the 57,300–57,000 support zone could shift momentum back in favour of the bears.